On February 4, South Korea's ** "Newsis" published an article saying that in the Asia-Pacific region except China, fierce competition between South Korean, Chinese and Japanese auto companies is in full swing. While Japanese companies still dominate the market, Hyundai Motor and Kia continue to expand their scale. Chinese manufacturers are also chasing at an astonishing pace in the relevant markets.
According to data released by Mark Lines, a global automotive market research organization, Hyundai Motor and Kia sold 114 percent of their sales in Southeast Asia, India, Australia, and other Asia-Pacific regions excluding China last year97.42 million units. This is an increase of 1 from 20228%。
Hyundai Motor and Kia are growing particularly rapidly in Southeast Asia and India. Hyundai's sales in India exceeded 600,000 units for the first time in history last year, and Kia's sales exceeded 250,000 units, showing a steady growth trend.
In Vietnam, Hyundai Motor and Kia ranked first and third with sales of 67,450 and 47,730 units respectively last year. Combined, the sales of the two companies are about double that of Toyota, which ranks second (57,414 units).
Hyundai Motor sold 3 percent of its wholesale sales in Indonesia last year550,000 units, with a market share of 35%。After Toyota, Daihatsu, Honda and other Japanese companies, it ranked around 6th in the local area, but it increased by 11 year-on-year1%。
Hyundai Motor and Kia also performed well in the Thai market, where Japanese cars dominate. Hyundai's sales in Thailand increased by more than 35% to 5,795 units.
Sales of Japanese manufacturers decreased year-on-year. Suzuki sold 191 last year50.34 million units, a year-on-year decrease of 04%, Toyota's sales plummeted by nearly 18% to only 15231.01 million units. Honda decreased by about 24% to 3961.9 million units.
At present, apart from the domestic market, Chinese companies do not have much sales in the Asia-Pacific region. However, the growth rate is higher than that of Japanese and Korean companies. SAIC Motor sold 1578.18 million units, a year-on-year increase of 95%, the highest sales volume among Chinese companies.
BYD, a Chinese electric vehicle company, sold 46,710 vehicles last year, up more than 700 percent year-on-year. China's Geely was 18,621 units, down more than 38 percent from a year ago.
"Southeast Asia and India have a large young population and a higher economic growth rate, so the automotive market is also expanding," said a Korean industry insider. With Japanese companies taking the lead in the market, Hyundai Motor and Kia are catching up fast, and Chinese companies have also entered, so the competition between the three countries will be even more intense. ”